Pagaya Closes AAA-Rated $500 Million PAID Deal, Continuing Strong Execution Across ABS Programs

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07/28/2025 - 08:30 AM

Upsized consumer loan transaction marks fifth fully-prefunded PAID deal of 2025
Several new investors added to Pagaya’s ABS platform, highlighting sustained institutional demand for Pagaya’s AI-generated assets
Over $9.5 billion of capital commitments raised this year to fund all asset classes across Pagaya’s ABS and forward-flow programs

NEW YORK--(BUSINESS WIRE)-- Pagaya Technologies LTD. (NASDAQ: PGY) (“Pagaya” or “the Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced the closing of PAID 2025-5, a $500 million asset-backed securitization (ABS) backed by consumer loans originated on the Pagaya network. The deal was upsized from an initial target of $400 million and received a AAA rating from Kroll Bond Rating Agency (KBRA).

This transaction marks the fifth fully-prefunded PAID deal of the year, continuing Pagaya’s consistent execution across its ABS programs. It follows the recent closing of Auto RPM 2025-4, bringing the Company’s year-to-date ABS issuance to over $4.6 billion across personal loan, auto, and point-of-sale verticals. This deal garnered strong demand, with over 30 unique investors participating, including five new investors, four of whom are new to Pagaya’s entire capital markets program.

“From personal loans to auto and POS, our capital markets platform is delivering consistent access to diversified funding at scale,” said Sahil Chandiramani, Pagaya’s Head of Capital Markets. “This latest PAID transaction demonstrates the depth of investor appetite and the power of our network to deliver high-performing, repeatable securitizations across asset classes.”

Pagaya continues to expand its investor base and financing flexibility through its ABS and forward-flow programs, supporting accelerated growth for both lending partners and institutional investors. Since 2018, the Company has completed 75 securitizations, raising nearly $31 billion in capital to fund loans originated through its network.

About Pagaya Technologies
Pagaya (NASDAQ: PGY) is a global technology company making life-changing financial products and services available to more people nationwide, as it reshapes the financial services ecosystem. By using machine learning, a vast data network and an AI-driven approach, Pagaya provides comprehensive consumer credit and residential real estate products for its partners, their customers, and investors. Its proprietary API and capital solutions integrate into its network of partners to deliver seamless user experiences and greater access to the mainstream economy. Pagaya has offices in New York and Tel Aviv. For more information, visit pagaya.com.